U.S. Job Market Continue Upward Swing, Fueling Confidence in Employment Recovery
May 08, 2010 at 09:00 AM EDT
The U.S. job market exceeded estimates by adding 290,000 jobs in April, the Labor Department reported Friday. The biggest upswing in four years indicates a strong upward trend in private sector hiring and a positive outlook for the recovery. Experts say the job data shows that the recovery is making progress and should erase fears of a double dip recession - even if that progress is slow. " The jobs report underscores this is a resilience of the recovery, " said Lakshman Achuthan, managing director of Economic Cycle Research Institute. "When the business cycle is in an upswing, it starts to feed on itself, and the economy can withstand a pretty big shock without being tipped into a new downturn."